New Car????

Anonymous — Wed, 06 Jul 2011 21:19:09 GMT

I am needing to trade in my 2006 Dodge Magnum with 102,000 miles for something more reliable. She should come out of the shop with a new fuel pump tomorrow.

I've been monitoring my credit and working to improve it for several months now. I've paid off multiple collections on old medical bills in the last year.

The biggest hickey on my c.r. right now are my student loans. I have disputed Sallie Mae's multiple entries of accounts many times. I had all the loans consolidated years back and they were actually transferred to another servicer. But Sallie Mae won't update.

So I've got a couple thousand equity in my trade, based on Kelley Blue Book and NADA.

My transunion is at 594, Experian 569.. and Equifax is killing me with a 529.

I've been paying on the Magnum for 27 months at $350 a month with no late payments. The finance company is reporting it as pays as agreed every month. As well as a couple of low limit credit cards that are payed as agreed for the last two years at a 14% interest rate.

In addition to that I've got two other paid off auto loans on my report. Each of them have a couple of 30 day lates ( at least 5 years ago)

What are my chances of being able to finance a brand new car around $25,000. I have made great strides to improve my credit over the last couple of years and have been on time with every payment in the last 30 months. I'm just so tired of buying one used car after another every two or so years.

Re: New Car????

Anonymous — Wed, 06 Jul 2011 21:19:56 GMT

Forgot to add to that. My monthly income gross is $3200 month.

Re: New Car????

sobreezy — Thu, 07 Jul 2011 00:22:22 GMT

IMHO with low credit scores and dependent on your DTI it may be expensive ie high APR, down payment, monthly payments. Yes you may get approved but at what cost? Hopefully you get what you want

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New Car????

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